Stefan Knapp, PA business transformation expert, discusses the need for companies to become more agile if they want to be prepared for an age where change is a constant factor. Today, born-digital companies are disrupting established businesses in ways we couldn´t even imagine a few years ago. If companies want to keep up and thrive in a rapidly changing business environment they will be wise to adopt the agile method.
Companies who have succesfully implemented the agile method have three distinct traits. The first one is their ability to adopt a start-up culture. Start-ups are often born agile and have an entrepreneurial spirit that established businesses can learn from. Seen from a business perspective, companies can also boost their innovation by working with start-ups. One example being the Danish insurance company, Tryg, who is working with several hundred start-ups to help them gain a competitive edge in the insurance market.
Agile organisations are also resolute. They know the power of decision-making and are not afraid of making tough decisions to help them gain and maintain a strong market position. They are vision-led and make bold investment in technologies that could profoundly affect the way they work today. Part of their decision-making ability comes from their willingness to allow employees to make decisions close to them without having to go through unnecessary chain of commands.
Thirdly, they deliver customer value fast.
"Being agile is not a prerequisite for connecting with your clients. But in my experience, agile organisations are able to deliver customer value faster than others. They live and breathe for maximising customer value and make a point of knowing what customers think of their web site, their products and services, their apps. They know how to use customer data to constantly adjust their business to deliver more value", states Stefan.
Stefan Knapp is a business transformation expert at PA Consulting Group